Kroger Co. earnings summary

AP News
Posted: Sep 09, 2011 1:12 PM
Kroger Co. earnings summary

PROFIT, SALES UP: Cincinnati-based Kroger Co. reported its sales and profits rose in the second quarter, with 5.3 percent sales growth in stores open at least 15 months, a key retail indicator.

GLOOMY SHOPPERS: Kroger executives say shoppers are feeling more pessimistic about the economy; worried about higher prices, unemployment and stock market volatility.

STOCK SLIDES: Investors seemed concerned about lower profit margins and bleaker consumer sentiment in the highly competitive grocery business. Kroger shares were lower amid a broad market decline on Friday.